Morgan Stanley, Goldman at Odds on S&P 500’s Bull Market Rally
- Morgan Stanley’s Wilson says earnings drop will stall gains
- Goldman’s Kostin raises US gauge’s year-end target to 4,500
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The S&P 500 entering a bull market has left Wall Street’s top strategists split on the way forward.
Goldman Sachs Group Inc.’s David Kostin expects the gains to continue as other sectors catch up with the searing rally for technology shares. Morgan Stanley’s Michael Wilson, meanwhile, points instead to the bear market of the 1940s, when the S&P 500 rallied 24% before returning to a new low.